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opinions needed please

I am seeking an 80% ltv mortgage for a new build (i have already got a substantial price reduction on it so i am hoping the valuation wont be a problem).

i found natwest offered a 2.99% tracker for 2 years, looking to go interest only and make overpayments. when i phoned for my mortgage in principle i spoke to a girl and told her about my partners wage, he gets a basic of £16,000 and then bonuses. she said they would take the average of his last three P60's, which equates to £24,666. she gave us an agreement in principle of £137,000.

I made an offer on the house which was accepted, and phoned today to apply for the mortgage. however the girl i spoke to today said they dont calculate it like that, they would only take his basic wage and 25% of his annual bonus which only takes his salary to £18,000.

Does anyone know if theres anything i can do about this?????
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Comments

  • anyone please???
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    emma2009 wrote: »
    anyone please???

    You only posted the first post 30 minutes ago, have some patience.
  • _Andy_ wrote: »
    You only posted the first post 30 minutes ago, have some patience.

    if you dont have anything useful to say, dont say anything at all
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    What a charming person. Rude as well as impatient. Ties in nicely to your lack of thanking people in the other threads.
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    emma2009 wrote: »
    I am seeking an 80% ltv mortgage for a new build (i have already got a substantial price reduction on it so i am hoping the valuation wont be a problem).

    i found natwest offered a 2.99% tracker for 2 years, looking to go interest only and make overpayments. when i phoned for my mortgage in principle i spoke to a girl and told her about my partners wage, he gets a basic of £16,000 and then bonuses. she said they would take the average of his last three P60's, which equates to £24,666. she gave us an agreement in principle of £137,000.

    I made an offer on the house which was accepted, and phoned today to apply for the mortgage. however the girl i spoke to today said they dont calculate it like that, they would only take his basic wage and 25% of his annual bonus which only takes his salary to £18,000.

    Does anyone know if theres anything i can do about this?????

    Earn more money.

    Maybe in the field of etiquette.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • beecher
    beecher Posts: 2,497 Forumite
    80% LTV, interest only, new build, relying on bonuses - that's a toxic mixture. I'd be amazed if any lender took that on. You probably need to see an advisor and see what they say - I take it you have time to back out of your purchase?
  • _Andy_ wrote: »
    What a charming person. Rude as well as impatient. Ties in nicely to your lack of thanking people in the other threads.

    Actually i find it quite sad that you have nothing better to do than read posts on here and take the time and effort to reply to them, just to tell somebody to be patient. You could have said "im afraid i dont have any advice for you but.....", but instead i found your comment to be rude, hence my reply. Further to your comment about my lack of thanking people, i am new to these forums and did not know how to thank people, but i will certainly thank those that help me.....and to be honest that comment proves my point, you have obviously taken the time to read my other posts and see what i have been doing....it must be nice having nothing else to do
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    emma2009 wrote: »
    Actually i find it quite sad that you have nothing better to do than read posts on here and take the time and effort to reply to them, just to tell somebody to be patient. You could have said "im afraid i dont have any advice for you but.....", but instead i found your comment to be rude, hence my reply. Further to your comment about my lack of thanking people, i am new to these forums and did not know how to thank people, but i will certainly thank those that help me.....and to be honest that comment proves my point, you have obviously taken the time to read my other posts and see what i have been doing....it must be nice having nothing else to do

    I am really surprised you haven't been inundated with lots and lots of advice and information...

    and yes, it is brilliant having nothing else to do.

    Good luck

    The Wu
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    can you tell me why it is different for people? they are charging me 12% to keep my loan running

    How big is your unsecured loan with NR left over from selling your last place, that could have a significant influence on a lender deciding to lend
  • Mrs_Bumble
    Mrs_Bumble Posts: 1,028 Forumite
    You can't make Nat West change their mind about what income they are happy to take into account.

    I agree that the fact that you are looking to take the mortgage on interest only, its a new build, and relying on bonuses is a toxic combination and could spell trouble.

    Are Nat West actually happy with the whole mortgage being on interest only?

    So you either get a further price reduction or shop around for another lender.
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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